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Audit Highlights

The following are highlights of our work during the April 1, 2017–September 30, 2017, semiannual reporting period.

The Board's Approach to Cybersecurity Supervision
The Board can enhance its approach to cybersecurity supervision as it implements its multiyear cybersecurity oversight program.

The CFPB's Examination Workpaper Documentation Practices
The CFPB can improve its approach to documenting examination results and protecting sensitive information so that only employees with a business need have access to materials with confidential supervisory information and personally identifiable information.

The CFPB's Examiner Commissioning Program
The CFPB can improve the design, implementation, and execution of its Examiner Commissioning Program and On-the-Job Training program to ensure that its examiners are fully prepared before pursuing commissioning and that the Examiner Commissioning Program is evaluated and updated as needed.

The Board's Martin Building Project
Although the Board's controls over contracted architectural and engineering services are designed effectively and communication channels help the project team, the Board can strengthen its internal controls and communication as the Martin Building project progresses.

The CFPB's Issuance of Civil Investigative Demands
Although the CFPB generally complied with the procedural elements of section 1052(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and with its own procedures when issuing the civil investigative demands in our sample, the agency can improve its guidance for crafting notifications of purpose associated with civil investigative demands.

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